I am looking for advice on this deal, and the New Braunfels location in general. I am hearing that the market is slowing down there and may not be a good place to invest. But it has a fairly low property tax (1.5%) which is giving good numbers, and if my strategy is long term rental (thinking 5+ years buy and hold, or 3 years depending on whether we want to upgrade our current home..), would it still be worth it?
2400+ sqft, fairly new construction, low HOA, 310k - 325K. I plan to negotiate for a buy down option. Interest rate ~6.8 but it has fluctuated so much in the past few weeks that I'll not know until the day of contract. 25% down.
Found this article to be interesting, opposite of what other agents have been telling you regarding growth: https://www.expressnews.com/ne...
New Braunfels is in between two large cities with extreme growth forecasted and even termed metroplex like the DFW area. Downtown Austin to DT San Antonio is around 80 miles and NB is almost right in the center. With a housing affordability crisis happening in Austin many people are looking south and finding options in the Hays and Comal counties. What other options are you considering?
Property Manager · San Antonio and Austin, TX · Member since 2016 · 377 posts · 380 votes
3y
@Divya Prasad We manage investment properties in that area and surrounding areas that are long term rentals. Maybe a better question to ask yourself is would you regret not buying it in 5-10 years looking back?
Hi Brad, thank you for your reply. I wouldn't regret it if I made an informed decision with as much info and research as I can gather as of today. Being a first time out of state investor, it is hard to make that leap without apprehension. I am trying to figure out if New Braunfels has good job/population growth and area to expand. It does look good in the online articles, but some of the realtors I have spoken to don't recommend it, so a bit on the fence there.
The best you can do is make a great decision today with projections for tomorrow. What happens tomorrow can always change, but you make the best decision you can today to help you for tomorrow.
If you have any questions, please don't hesitate to contact me.
Found this article to be interesting, opposite of what other agents have been telling you regarding growth: https://www.expressnews.com/ne...
New Braunfels is in between two large cities with extreme growth forecasted and even termed metroplex like the DFW area. Downtown Austin to DT San Antonio is around 80 miles and NB is almost right in the center. With a housing affordability crisis happening in Austin many people are looking south and finding options in the Hays and Comal counties. What other options are you considering?
I can’t really give input as to whether or not it is a good deal, but I would echo the article that for locals, the city has seemed to lose some of its charm. It was a great place to grow up, but has changed over time. I think if crime stays in check (there was almost none in the past), it will still continue to be a nice area. I have been looking for another area that it similar, but have not seen one yet with as good of location (smallish town, but still close to the city; don’t have to get on major highway to get around, but not in the middle of nowhere), things to do, beauty and good schools. But I have still been looking! I-35 will also be an issue probably at some point. The traffic getting to and from cities like Austin/San Antonio is so much more difficult than say 7 years ago. It’s awful in the summer too.